LSE close to binning TradElect
18 August 2009
TradElect is an effective financial platform; however, problems exist concerning maintenance and support of this trading platform.
TradElect is an effective financial platform; however, problems exist concerning maintenance and support of this trading platform.
LSE wants to go a lot faster. To date it has reached 2.7 milliseconds. The goal is to increase speed to sub-milliseconds and eventually to have the ability to go even below that. The increase in speed is part of an effort to compete with rival liquidity providers such as Chi-X, Bats and Turquoise. According to Dow Jones, Chi-X has an average trading speed of 0.4 milliseconds.
As part of an overall cost cutting exercise, Rolet says the LSE will continue reviewing cost items like technology, general overheads, manual processes and compliance.
© finextra
